Soaring sterling weighs on FTSE 100, but ABF shines [Reuters (UK)]
Diageo plc (DEO)
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Source: Reuters
Soaring sterling weighs on FTSE 100, but ABF shines | Reuters Reuters Staff 4 Min Read (For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 hovers as exporters fall * ABF up 2.7 pct on Primark performance * Strongest inflows since 2013 boost Ashmore up 6 pct By Helen Reid LONDON, April 17 (Reuters) - Sterling’s rise to its highest level since the Brexit vote weighed on Britain’s FTSE 100 on Tuesday, while focus turned from geopolitical risks to corporate earnings which were largely supportive. The FTSE 100 was little changed at 0830 GMT, as gains in financials and mining stocks were cancelled out by falls in large dollar-earning exporters, which suffer from a stronger pound. Diageo, Unilever, British American Tobacco , and Imperial Brands all fell 0.4 to 1.1 percent. Sterling’s climb has weighed on the internationally-exposed FTSE 100, which underperformed European stocks. “Large-cap UK equities are still largely driven by the fate of sterling and with t
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